Niva Bupa Health Insurance delivered impressive financial results for the March quarter, with net profit surging 67% to ₹345 crore compared to ₹206 crore in the same period of 2024-25. According to reports from ET Now, the company's total income rose to ₹2,078 crore against ₹1,565 crore in the year-ago period, while gross written premium increased to ₹2,880 crore from ₹2,079 crore in the corresponding quarter last year. However, total expenses grew to ₹1,795 crore from ₹1,470 crore in the previous year, indicating increased operational scale.
The health insurer continued to strengthen its position in the retail health segment, with market share improving to 10.1% at the close of FY26, representing a 76 basis points increase over FY25. As reported by ET Now, the company reported a claim settlement ratio of 94.4% for FY26, an improvement of 205 basis points over the previous year, reflecting its focus on customer service and claims experience. The company's solvency ratio declined to 2.49 as of March 31, 2026 from 3.03 at the end of the fourth quarter of the previous fiscal year. According to Motilal Oswal's latest research report dated June 19, 2026, growth remains above 30% in the first two months of FY27, with the retail health industry expected to maintain a high-teen growth trajectory.
The board has approved the elevation of Ankur Kharbanda (currently designated and serving as executive director and chief business officer) to the position of executive director and deputy chief executive officer effective May 8, based on the recommendation of the nomination and remuneration committee. According to ET Now, brokerage firm Motilal Oswal has maintained a Buy rating on Niva Bupa's stock, with a target price of ₹100. The company estimates a CAGR of 24%/28% in IFRS insurance revenue/PAT during FY26-28, with the CISR improving to 100.1% in FY28E. As per Motilal Oswal's latest report, the company's diversified distribution model (~30% of GWP contributed by agency, banca and brokers each) enables deeper customer penetration, superior resilience and sustained growth across market cycles.
At 10:24 AM today, shares of Niva Bupa were trading at ₹86.69, down 0.25% from the previous close on the BSE. As reported by ET Now, Motilal Oswal cites that the company is gaining market share in the under-penetrated retail health industry and building a multi-channel profitable growth engine. The brokerage notes that Niva is entering the most attractive phase of the health insurance lifecycle, where scale, renewal accumulation, claims efficiency and operating leverage begin working simultaneously. Motilal Oswal maintains its BUY rating with a target price of ₹100, valuing the company at 30x FY28E IFRS PAT, noting that about 60% of retail business originates from renewal business with superior economics due to low acquisition costs.
